John Whitlock, a Boston-based partner in Edwards Wildman's
Restructuring and Insolvency practice, discussed how Jefferson County, Ala.’s quest to exit bankruptcy is proceeding, with the potential of getting approval this week for its plan to exit Chapter 9 after two years in The Bond Buyer. In the article, "Jefferson County, Ala., Could Exit Bankruptcy This Week
," Whitlock said, "If the plan is confirmed on Friday or shortly thereafter, the confirmation will satisfy the condition for the underwriters to close the sale of the new warrants," referring to the planned Dec. 3 closing on the new warrants. Furthermore, Whitlock added, "As long as the court agrees not to stay the confirmation order, the underwriters may be willing to close even if there is an appeal, since the appeal is likely to become moot once the new warrants are sold and the plan is consummated."